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Your high school aged kid wants to pursue a degree in Finance in college, a few MT ?s

Posted on 12/11/22 at 6:30 pm
Posted by Turf Taint
New Orleans
Member since Jun 2021
6010 posts
Posted on 12/11/22 at 6:30 pm
Would appreciate any thoughts/advice re:

School / Degree program

Do's and Don'ts in determining Finance field of interest (Investment banking, Asset Mgmt, Corporate Finance, Real Estate, etc.)

General thoughts on the field of Finance

Thank you!


Posted by UnoDelgado
Covington
Member since Nov 2019
530 posts
Posted on 12/11/22 at 6:56 pm to
Solid major that will be attractive to employers across multiple industries. If you live in LA, Tulane.
Posted by barry
Location, Location, Location
Member since Aug 2006
50336 posts
Posted on 12/11/22 at 7:08 pm to
If he wants to do something in “high finance”, do your best to go to a target school.
Posted by Dr Rosenrosen
Member since May 2006
3332 posts
Posted on 12/11/22 at 9:46 pm to
Go to Tulane and then NYC or Houston.
Posted by Bill Parker?
Member since Jan 2013
4466 posts
Posted on 12/12/22 at 12:01 am to
Accounting, real estate finance and GIS.
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 12/12/22 at 2:02 am to
(no message)
This post was edited on 12/12/22 at 6:59 am
Posted by Free888
Member since Oct 2019
1593 posts
Posted on 12/12/22 at 8:20 am to
Plenty of good schools out there. Some tips:

1) Become an Excel wiz. This will make them a more attractive candidate for employers, and also decreases any learning curve they’ll have.

2) Make sure to take extra accounting and tax courses beyond the minimum if possible. Having a strong foundation in these is a benefit for any finance professional.
Posted by Azazello
Member since Sep 2011
3180 posts
Posted on 12/12/22 at 8:43 am to
quote:

If he wants to do something in “high finance”, do your best to go to a target school.


I work in IB. This is the answer.

Posted by lsujro
north of the wall
Member since Jul 2007
3917 posts
Posted on 12/12/22 at 8:58 am to
agree with others that it's a great well-rounded degree that would make an attractive employee candidate. Take tons of accounting courses. Important to get good internships - should spend lots of time focusing on this in school imo. I'd leave LA if that's where you are. Depending on where kid wants to work geographically, there are lots of decent options for finance. UT to work in TX for example would be good. I know GS recruits at Vanderbilt. It seems the big "name" schools are the best avenue to a high level finance job.
Posted by CheesyF
Member since May 2017
389 posts
Posted on 12/12/22 at 10:07 am to
Explore career options early and often. Needs to network his balls off to understand jobs and get his foot in the door. Interviews for the “best” internships the summer after junior year happen as early as sophomore year.

If he goes to LSU he won’t get any help or direction, but if he puts in the work (grades, networking) he can land anywhere
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
89453 posts
Posted on 12/12/22 at 10:14 am to
quote:

Do's and Don'ts in determining Finance field of interest (Investment banking, Asset Mgmt, Corporate Finance, Real Estate, etc.)


I think this is going to come down to interests and long-term career goals. Sure, we all take detours and side trips along the way, but you have to know where you're going in order to get there without the wildest stroke of luck.
Posted by el Gaucho
He/They
Member since Dec 2010
52886 posts
Posted on 12/12/22 at 10:19 am to
I’d say this would be like me wanting to play black panther in a movie

Like if he doesn’t have the right “early life and background” on his Wikipedia page he’s never gonna make it on Wall Street and will probably just end up selling insurance or something
This post was edited on 12/12/22 at 10:20 am
Posted by FinleyStreet
Member since Aug 2011
7895 posts
Posted on 12/12/22 at 10:27 am to
quote:

If he wants to do something in “high finance”, do your best to go to a target school.


This. Finance majors are a dime a dozen. Internships along with the "right" school is the best way to break in, particularly if you have no connections.
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 12/12/22 at 10:44 am to
To provide a counterpoint, I’ve spent my entire career in high finance. Mainly middle and back office so not quite as lucrative. But you find all sorts of backgrounds even in front office positions. I’ve met music school graduates, I’ve met people without degrees, etc. and I’ve met some horrible finance majors with no knowledge. We hired an MBA one time who knew so little she didn’t last very long.

The main thing people want is someone who has a proven track record at other institutions and shown the ability to learn and make an impact.

Also, sometimes you may just have to work up.

Of course, as has been mentioned, sometimes your just never going to be in the running. My buddy always told me he was under qualified for his job by only having one Ivy League advanced degree
Posted by Texas Tea 123
Member since Sep 2017
206 posts
Posted on 12/12/22 at 11:47 am to
The most standard and text book way to have a very lucrative career in finance:

1. Go to a great school with a great brand name (ivy league, quality state schools like Texas, Texas A&M, UNC, UVA, Michigan, quality non-ivy private schools like Duke, Chicago, Vanderbilt, Notre Dame, USC)
2. Bust balls to get a job as an investment banking analyst for two years after undergrad

Do that and by the time you are mid 20s the world is your oyster (opens up jobs in the investing industry, private equity, etc, or can simply go a different route bc you'll be more than qualified for any other job)

Posted by LSUShock
Kansas
Member since Jun 2014
4909 posts
Posted on 12/12/22 at 11:51 am to
quote:

1) Become an Excel wiz. This will make them a more attractive candidate for employers, and also decreases any learning curve they’ll have.


To narrow it down, a good basis would simply be mastering Pivot Tables and VLookups.

I suck arse at excel. I hate spreadsheets. Learning those 2 things helped me tremendously as a purely sales focused person.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11062 posts
Posted on 12/12/22 at 12:13 pm to
Tell him to do something more valuable to society
Posted by lynxcat
Member since Jan 2008
24118 posts
Posted on 12/12/22 at 12:38 pm to
Pivot tables and vlookups is elementary Excel even if very useful.

To the OP, how smart is said kid? What a Finance degree can do for you will start with the head on the shoulders. It has broad application but depending on aspirations there are better / more efficient routes to get there.

Some posts in high finance gigs…arguably the hardest and most selective to land. That requires a more dedicated and thoughtful approach.

If he wants to sell insurance or work at a local bank, then any 4 year university is fine.
Posted by meansonny
ATL
Member since Sep 2012
25487 posts
Posted on 12/12/22 at 1:47 pm to
High finance wants IT people.

MIS degrees. Able to make their own programs for customizable data and reports.

The problem comes from the IT hires lacking the personality and people skills to advance their careers much further than just running the programming.

Every firm is looking for a differentiating principle. That is usually in the world of data.
The managers then sell the data to attract/retain clientele.

I'm sure the labor markets may look very different 15 to 20 years from now.
But this is the word on the street.
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 12/12/22 at 1:50 pm to
I still don’t really use b lookups and haven’t really ever had to. That is still the standard though that you must be able to.

Being able to build macros and knowing vba is important.

I remember getting out down when I interviewed for JPM “you still use excel. We haven’t used excel in 5 years” back in 2018/2019.

Everywhere is different. Be able to learn
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